Omani investment group Mubbadrah Investment has announced that its consortium - comprising local and international companies - is set to develop an artificial intelligence (AI) data centre in the sultanate at a total investment of over $3 billion. Once completed, it will have a capacity of up to 400 megawatts (MW).
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The Gulf Cooperation Council (GCC) is emerging as a major data centre growth market, with more than 174 active projects representing over $93 billion in investment. Artificial intelligence (AI), cloud computing and digital transformation are driving demand for new capacity, according to MEED.
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The UAE plans to invest an additional $15 billion in Greece over the next five to eight years, targeting energy, hospitality, artificial intelligence, technology, industry and infrastructure, according to Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade.
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The International Monetary Fund (IMF) has forecast a 1.3 per cent contraction in the economies of the Middle East, North Africa, Afghanistan and Pakistan (MENAP) in 2026, followed by a strong rebound of 6.6 per cent next year, as the regional conflict continues to weigh heavily on energy production, trade and economic activity.
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GCC capital markets have witnessed significant development in recent years, driven by governments’ efforts to diversify funding sources and deepen capital markets, said top rating agency Fitch, adding the combined market capitalisation of listed equity markets across the Gulf region stands at around $4 trillion.
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The United Arab Emirates has formally nominated Lana Zaki Nusseibeh, Minister of State, as a candidate for the position of Secretary-General of the United Nations.
Emirates Integrated Telecommunications Company (du) reported a 10.8% year-on-year increase in net profit to AED2.4 billion ($653.51 million) for the first nine months of 2026, supported by sustained demand for connectivity and digital services.
Dammam's King Fahd International Airport was targeted by an attack on Wednesday evening, killing one person, said Saudi Arabia's General Authority of Civil Aviation (GACA).
Saudi Arabia's crude oil exports rose nearly 8 per cent in August to their highest level since March, signalling a continued recovery in shipments despite the prolonged disruption to regional energy flows caused by the Middle East conflict.
Abu Dhabi has issued a set of guidelines for regulating industrial building facades in the emirate as well as unified standards for building facades facing streets and public spaces, with the aim of improving the urban landscape in industrial areas and enhancing safety of the facilites and supporting efficient operations.
Leading UAE bank Emirates NBD has reported a 4% jump in its profit before tax for the first nine months which hit AED24.3 billion ($6.6 billion), while its income soared to hit a record AED42.2 billion ($11.4 billion), up 15% year-on-year despite higher impairment and hyperinflation charges.
IDOM has been selected by Shanxi Installation Group to carry out the detailed design for the 500 MW Al Kamil I Solar Project in Oman, further strengthening the company’s presence in the Middle East’s growing renewable energy sector.
Danantara Indonesia, through its investment arm, PT Danantara Investment Management (DIM), has acquired 4.4 hectares of land plots within the SAR26 billion ($7 billion) Thakher Makkah development, following the acquisition and handover of Novotel Thakher Makkah. The transaction involves an operating hotel with 1,461 rooms and suites.
Saudi-based Advanced Building Industries Company (Senaat) has announced that its key subsidiary, Zamil Steel, has been awarded a major contract to provide fabrication, supply and installation of structural steelworks and metal façades for the National Tennis Center in Qiddiya City, Riyadh.
Dubai’s Roads and Transport Authority (RTA) is set to open the final bridge of the World Trade Centre Roundabout Development Project this week. The 1,000-m-long, two-lane bridge will accommodate 3,000 vehicles per hour, serving traffic from Al Majlis Street towards 2nd December Street.
Go Energy Group has partnered with Saudi Arabia’s Clean Energy Co and SARCO to develop a low-carbon fuels project targeting European and Asian markets. Initial capacity is planned at 50,000 tonnes annually, with expansion potential reaching 400,000 tonnes.
Gulf Air CEO Martin Gauss highlighted the importance of collaboration, adaptability and strategic investment in supporting Middle East aviation growth at Routes World 2026 in Germany, citing the region’s infrastructure, connectivity and established hub networks as key competitive advantages.
Saudi Basic Industries Corporation (SABIC) reported a 14 per cent quarterly revenue increase to SAR28.17 billion ($7.51 billion) in Q3 2026, while adjusted EBITDA rose 40 per cent to SAR4.75 billion. Adjusted net income rebounded to SAR840 million.
Healthpoint, part of the M42 Group, has partnered with Proximie, the global surgical intelligence platform for the operating room (OR), to bring anticipatory health into surgical care by working towards introducing real-time surgical intelligence across its main operating rooms in Abu Dhabi.
The Gulf is one of the most active investment regions in the world. Diversification efforts have opened sectors from logistics and healthcare to technology, energy and financial services, and international capital has followed. But deals in the region rarely stall over price – they stall over process, timing and people. Investors who understand this early tend to close faster and build stronger partnerships.
Sugee Group, a leading international real estate developer with nearly four decades of experience, has announced a strategic partnership with Wyndham Hotels & Resorts to develop the world’s first Vienna House branded residences on Al Marjan Island in Ras Al Khaimah.
Healthpoint, part of the M42 Group, has partnered with Proximie, the global surgical intelligence platform for the operating room (OR), to bring anticipatory health into surgical care by working towards introducing real-time surgical intelligence across its main operating rooms in Abu Dhabi.
Qassim University has concluded a two-day hackathon on reducing food loss and waste, which was organised by its Institute for Studies and Consulting Services in cooperation with the General Food Security Authority.
The inaugural International Gifts & Products Exhibition has opened at the Jeddah Exhibition and Events Centre, operated by the Jeddah Chamber, and will run until October 31.
Peace and Space are on the agenda of the Word Investment Forum (WIF) for the first time as over 5,000 participants, from heads of government and ministers to CEOs, sovereign wealth fund leaders, academics and civil society, meet in Doha from October 25 to 27.
Roads and Transport Authority (RTA) has launched the trial operation of the Dubai Glydways automated transit system at a premium retail destination in the emirate - Bluewaters. The system uses autonomous electric vehicles supported by artificial intelligence technologies, operating on dedicated guideways.
Abu Dhabi will host the Hexagon World Series padel tournament in October 2027, bringing the professional team padel circuit to the emirate for the first time.
Qassim University has concluded a two-day hackathon on reducing food loss and waste, which was organised by its Institute for Studies and Consulting Services in cooperation with the General Food Security Authority.
